Bitcoin Price Not Correlated to Futures Expiration Dates: Research

The common idea that the bitcoin price drops just before the cryptocurrency futures contracts expire has no solid basis, a new study published by Cindicator suggests. The report, titled Bitcoin Futures: Market Evolution, studied bitcoin volumes on futures and spot cryptocurrency exchanges to get an idea about the liquidity and development of the holistic trading market. It initially found the presence of institutional investors in the future markets, analyzed their past positions on the futures, compared them to the bitcoin price movements before the future expired. The analysis is rested on…

BTC/USD Forming Doji in Bull Trap

Bitcoin remains motionless as the price enter yet another day of anxious stability. The Bitcoin-to-dollar exchange rate is extending its sideways consolidation trend. The spike seen at the beginning of this week – mostly because of the Tether crash – is fading aptly in the absence of adequate bullish sentiment, halted near circa 6550-fiat. The push lately brought the pair back towards 6400-fiat where market found a decent bull sentiment. Since then, the price is merely fluctuating inside an almost $150-range. There is still some bullish fundamentals that could fuel…

Cryptocurrency Lender Sees ‘Meaningful’ Bump in Institutional Borrowing

As institutional investors wade increasingly further into the cryptocurrency ecosystem, they are contributing to a significant bump in demand for cryptocurrency lending services. Institutional Crypto Lending Tops $550 Million That’s according to the Q3 Digital Asset Lending Snapshot from Genesis Capital, who in March launched the cryptocurrency industry’s first institutional lending business. Since the service’s launch seven months ago, the firm says that it has originated more than $550 million in loans, $130 million of which are currently outstanding. Source: Genesis Unlike other cryptocurrency loan providers, Genesis Capital — which…

Bitcoin Breakout ‘Only a Matter of Time’: Analyst

Bolstered by stable trading volume, growing network activity, and increasing validation on Wall Street, the bitcoin price could be on the brink of a major move to the upside. Writing in daily market commentary made available to CCN, eToro senior market analyst Mati Greenspan said that the stars continue to align for a potential bitcoin rally, making it increasingly likely that the most prominent cryptocurrency will soon break out of its holding pattern. “It’s only a matter of time now,” he said of a potential bitcoin breakout. “Of course, the…

Bitcoin Futures Trading Rose 41 Percent in Q3: CME

Bitcoin futures trading volumes continued to rise in Q3, with derivatives exchange CME reporting a 41 percent quarter-over-quarter increase in average daily volume. Bitcoin Futures Volumes See Major Bump in Q3 During Q3, the exchange averaged 5,053 contracts — each equivalent to 5 BTC — traded during each daily trading session, representing 25,265 BTC in volume. Open interest in CME’s bitcoin futures market saw a significant bump as well, rising 19 percent quarter-over-quarter to an average of 2,873. In Q3, Bitcoin futures average daily volume rose 41% and open interest was…

BTC/USD in Bull Trap, Again

The Bitcoin-to-dollar exchange rate consolidated sideways as an extension to its intraday stable action. The pair seems to have found a decent support above 6400-fiat, but an equally stubborn resistance near 6530-fiat is holding its gains. Currently, BTC/USD is trading at 6439-fiat, down 0.54 percent from the previous day’s close. On the fundamental front, Fidelity, a multinational financial service with a Wall Street status, has revealed its plan to commit its Bitcoin trading plans for hedge funds. The event attests to institutional investors’ growing interest in adding digital currencies to…

Bitcoin Price Rises to $6,450 as Market Stabilizes, Has Crypto Hit a Bottom?

Over the past 72 hours, the cryptocurrency market experienced one of its wildest fluctuations in recent years, triggered by the sudden increase in the Bitcoin price. The unforeseen decline in the value of Tether (USDT), a stablecoin backed by the US dollar on a 1:1 ratio, led premiums on major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to materialize, briefly pushing the price of BTC to $7,700. In actuality, the price of BTC on fiat-to-cryptocurrency exchanges such as Coinbase and Bitstamp did not exceed $6,700. Still, the short-term recovery of…

Next Bitcoin Bull Run Will See Crypto Market Rise ‘10x’: Pantera CIO

The co-chief investment officer of one the cryptocurrency industry’s largest investment firms said that he expects the next bitcoin bull run to carry the cryptocurrency market cap 1,000 percent above its current valuation. Pantera Capital’s Joey Krug made this prediction during an interview with Bloomberg, forecasting that the next upswing could propel the cryptocurrency market cap to more than $2 trillion. “If you look at that next bull run, I think the crypto space overall could hit 10x from here.” Noting that in previous market cycles the news that major…

$194 Million was Moved Using Bitcoin With $0.1 Fee, Potential of Crypto

On October 16, a Bitcoin user moved 29,999 BTC worth $194 million with a $0.1 fee, a transaction which with banks would cost tens of thousands of dollars. An often pushed narrative against cryptocurrencies like Bitcoin and Ethereum is that it is expensive to clear transactions due to fees sent to miners. However, the $194 million payment on the Bitcoin blockchain demonstrates the potential of consensus currencies to optimize cross-border payments significantly. $1 Million Through a Bank Costs $10,000+ Transferwise is a UK-based multi-billion dollar firm that eliminates hidden fees…

Bitcoin Price Intraday Analysis: BTC/USD Holds $6,400 Floor

The bitcoin-to-dollar exchange rate is holding above 6400-fiat as it goes towards testing major resistance hurdles to the upside. The pair moved 1.5 percent above its intraday low near 6346-fiat on Coinbase Pro while trading at over 7 percent premium rates on Tether-featuring exchanges. The volume, however, slowed down in contrast to Monday’s wild swings, indicating that serious traders waited for things to return to normalcy. As a result, Tuesday’s bitcoin trading session on non-Tether exchanges remained comparatively calmer. BTC/USD moved marginally throughout the Asian and the European trading hours.…